Drilling In Dry Wells

Readers who frequent this column will recall our long-held dictum that everything
cycles. Be the subject investments, economics, politics, or otherwise; everything
in this world has a tide that ebbs and flows, albeit on different schedules.

Nevertheless, it remains of utmost importance that in any of these areas,
when the flow of tides change directions, we must adjust in turn. Doing so
is far more profitable - and eventually far easier - than attempting to swim
upstream.

Today there exist surprising crowds of people who have made names for themselves
acting solely as antagonists; people who have little or nothing to say if they
aren't provided someone or something to rally against. Of these, Glenn Beck
stands out as among the most vocal and probably the most recognizable.

And just what has made Glenn Beck famous? Rallying against unsound monetary
policy, speaking out against progressive welfare programs, lambasting unaccountable
government czars and, most noticeably, revealing in minute detail the background
of a president unqualified for election and - in all likelihood - presently
serving his last weeks with any real authority.

Do any of these arguments add value in any way? Do they put forth any reasonable
alternative or call for real change? More importantly, do any of them matter if
Obama loses reelection and the US federal government tightens its fiscal purse
strings?

A recent quote said of this election that "if Barack Obama were running unopposed,
he'd have nothing to run on." In other words, with a president devoid of any
meaningful progress or accomplishment after three years in office, any reelection
campaign waged by Obama is built solely on bashing Romney.

Quite often we see the same thing in business. Instances abound where businessmen,
spokesmen or pundits survive only because they have someone to struggle against.
Theirs is not a constructive struggle; they are simply saying what people want
to hear - following the path of least resistance.

A quick story: Around the time George W. Bush was coming into the White House,
a caller into Rush Limbaugh's radio show asked the conservative host what he
was going to do now that he wouldn't have Bill Clinton to speak out against.
Rush responded that there would always be issues and events to discuss, and
as time went on his subjects changed from those he had discussed during the
Clinton years.

The point here is that the United States is presently undergoing a major shift,
just as it was around the new millennium. In fact, this instance is likely
much larger are further-reaching than was seen a decade ago. The US is now
in the midst of major shifts in the sphere of politics, finance, manufacturing
and production, employment, military and entitlement spending, and the list
goes on.

The question now is which of those pundits who have spent the past several
years building names for themselves can make the necessary shift from being
critical to constructive in their commentary.

Far harder is it to avoid the flavor of the week, but instead to change with
the times as required - regardless of popularity - when time calls for such
a shift. After all, the one trick pony can be amusing for a time, but when
they cease to serve a purpose they're the first ones sent to the glue factory.

Dock David Treece is a partner with Treece Investment Advisory Corp (www.TreeceInvestments.com)
and is licensed with FINRA through Treece Financial Services Corp. He provides
expert content to numerous media outlets. The above information is the express
opinion of Dock David Treece and should not be construed as investment advice
or used without outside verification.